Auto Finance Companies

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Auto Finance Companies

Use this forum to ask questions or share information about auto finance and leasing companies. One suggestion - rather than writing on the "wall", keep the discussions organized by adding to an open topic or by starting another discussion.

Members: 297
Latest Activity: May 15

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Discussion Forum

Subprime lenders in Texas

Started by David. Last reply by Mike M Apr 12, 2012. 17 Replies

Western Funding has been sold

Started by Harlene Doane. Last reply by Don Jasensky Oct 18, 2010. 1 Reply

2010 Auto Finance Survey

Started by Harlene Doane Sep 14, 2010. 0 Replies

Portfolio Analysis Tool

Started by Lisa Bundy Jul 29, 2010. 0 Replies

Does anyone have some names of good lenders for independents?

Started by Anthony Haboyan. Last reply by Michalea Barrett May 5, 2010. 13 Replies

Credit Loosening Up?

Started by Harlene Doane. Last reply by Tom White Jr. Oct 25, 2009. 5 Replies

Cash for Clunkers Program

Started by Dugan Anderson. Last reply by Gene Daughtry Aug 16, 2009. 2 Replies

Gulf Financial

Started by Greg Goebel. Last reply by John Belo Jun 29, 2009. 3 Replies

Comment Wall

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Comment by Linda Bassano on August 6, 2013 at 9:38pm

I'm looking for sub prime lenders for my dealership in Maine -Can anyone recommend a company that pays out well & approves customers fast .Thanks Very Much

Comment by Jeff Carress on April 5, 2011 at 10:00am
Good Morning. Does any one know anything about or have a rate sheet for a sub prime company named Dealer Funding. Just trying to keep up on what the compitition is doing.   Thanks Uncle Jeff
Comment by tim totzke on January 17, 2011 at 8:52pm

hey whats up people,iam looking for any info i can get on subprime leasing,what is the deal with this,what are the companys?i figure its hi rate,but is it residual based? if so how? from what i have heard its used cars,but is it real companies or just dealerships using another way to carry there own paper? any help would be great!!!

thanks

by the way jen,message me,interesting works happening...

Comment by David Ruggles on December 31, 2010 at 1:00pm
While it has nothing to do with secondary or sub prime, there are many credit unions around the country offering attractive programs.  These credit unions also offer balloon financing for both New AND Pre-Owned.  While they are limited to specific geographic areas, dealers who  have access to these credit unions can display balloon payments on their Pre-Owned web inventory, providing a truly compelling payment.
Comment by Mike Dorazio on December 31, 2010 at 11:34am
Westlake Financial is really the way to go. We lend in all 50 States. Our funding time is 1 to 2 days. A lot of deals fund on same day. We have a true Full Spectrum with 6 different programs. We compete in all segments of the market.We are closing in on a billion dollar prtfolio of business. We are ranked 5th in the country for volume in the sub-prime segment. We find ways to work with the dealer and we are committed to customer and dealer satisfaction. No other choice out there. If you are educated on our programs, you will make deals and money. Goto www.Westlakefinancial.com and become a partner with us right now. Happy New Year!!
Comment by Jeff Carress on December 31, 2010 at 11:30am

Ben, Your right but when you attack my company I attack back.

But you are right it is the New Year and we are all in this together.

So call me. We do business in Ilinois and I would love to sign you up and make money together in 2011.  Happy New Year to you and yours and everyone else who enjoyed this exchange as much as I did!!!!!

Just Saying..... Uncle Jeff 

Comment by Ben Misra (secondarypro) on December 31, 2010 at 11:12am

Jeff, we are getting too personal here. Best of luck to you and ACC.

 

Tell Tony, I said Happy New Year.

 

 

 

Comment by Jeff Carress on December 31, 2010 at 10:34am

Ben, I agree we should all strive to be like Mike and not be afraid to put to put together a deal we believe in. One of the keys to sucess in this business is knowing your lenders and after a wonderful conversation with Mike last nite I am convinced that we are a company that he wants to do business with. Because he understands us after that conversation.

 My issue with your very first comments in this exchange is that you do not know our company well enough to make such a declaration. We take great pride in our funding team and the job they do. And if you understand our program and can structure a deal we are competive with any sub sub prime lender in the market today. (email Ted he gave you his adress). For you to make the statements you made without knowing was irresponsible and unprofessional. Sorry I could not let it go without calling you out  on that one.

Just saying....Uncle Jeff

 

Comment by Ben Misra (secondarypro) on December 31, 2010 at 10:11am

Jeff,

The rookie comment was posed to Tom Herald who knows me well. I was one of the first 10 members on this site.

First of all thank you for the reminder about my website. At no time does it state that I recommend any lender over another. It has not been recently updated as I have been running a 100 unit used car store for the past year.

 

If any lender gives a 125% to 145% call and then takes 40% to 60% back, they should do that with no strings attached. I agree with BK that there really are not a lot of first payment defaults, but my collateral is still at risk.

 

I just think that at such a small net advance, there should not be a risk to me.

 

People like BK don't ever really have the problem with a FPD.

But many new and small special finance people lose their jobs when the owner has to write a $ 6000 check for a car he no longer has, needs to repo, with more miles, that he has titled, paid taxes on and now has to re inventory and sell again.

 

Comment by Jeff Carress on December 31, 2010 at 9:35am

Good Morning BK Mike it was  wonderful to talk to you on the phone last nite. A pleasure talking with a true professional. Thanks for the call.

Ben, You need to stop playing the rookie card. Your web site says you have been doing this for 28 years.  And you might also want to update your list of lenders on same site. If I were a dealer on your site and pulled up that list I would think that it was a list of "preffered" lenders that have some sort of realationship with or at the very least have done your home work on and recommend. All of the lenders that you have blasted out for FPD clauses and our company (Automotive Credit Corp) are on that list?????

I will again invite you or anyone else to call me at 800 810 2202 ext 1227 to chat about (and learn) what our company does and how we do business. It is what I do for a living and I love my job. So I am serious.

And to Ted Heater, (One of the premier and most respected dealers in the car business in America.) Thanks for the wonderful testimonial  

I'm just saying..... Uncle Jeff

 

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